They include £720 to have a key cut
The controversial leasehold business Eagerstates / Assethold overcharged homeowners by £1.2 million pounds over a five year period, according to the BBC.
The figure emerges from examining 140 tribunal cases which awarded repayment of service charges since 2019, and include fees such as £720 to have a new key cut.
LKP told BBC in its programme The Leasehold Trap
“Something is badly wrong with the way that it manages its portfolio of properties. We are inundated with complaints in a manner which is disproportionate to the size of that organisation.”
The Leasehold Trap
Leasehold homeowners in London and the east of England claim they’re being ripped off by skyrocketing service charges. Tarah Welsh investigates if they’re getting a fair deal.
BBC housing journalist Tarah Welsh examined the case of Sue Robertson in Worthing, whose service charges rose from £750 a year in 2019 to £3,198 after the freehold was bought by Assethold.
Assethold said: “The increase in service charges over the past three years reflects essential infrastructure upgrades and inflationary pressures in the property sector.”
The BBC found that Assethold owned the freeholds of almost 400 sites in England and Wales.
The BBC reports: “Through analysis of about 140 official court documents from the past five years, the BBC has discovered that Assethold, through Eagerstates, has overcharged leaseholders by at least £1,173,000. Despite this, and multiple complaints to the authorities, the leaseholders we’ve spoken to say nobody is listening.”
Ji Hoon Yoon, an Eagerstates / Assethold leaseholder, won his legal dispute with the firm, but complained of the property tribunal:
“There’s nothing within the judicial system to link up all of these cases, even if they’ve done this time and time again.”
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My Wife and I are currently on holiday (one of many) and enjoying the scenery and company of the people of Scotland.
We would have been unable to do this without going Right to Manage
The savings made by gaining the above are the only reason we are able to to do so.
We are effectively spending our hard earned cash in the United Kingdom and putting money back into the economy which will promote growth.
To the best of my knowledge and belief none of our money is going off shore to alleged asset strippers.
Fleecehold – Leasehold must be abolished in the first term of this Parliament in my opinion!
For 20 years our electricity bill been constant at 3k.
Only have about two dozen light bulbs to pay for.
2 years ago Y&y management swapped electricity companies supposedly to save money. I’ll leave you to infer real reason.
First year bill went up from 3k to 8k . After complaining found overcharged by 5k. This money returned. I haven’t seen a penny of it.
You’d think the bill would go down this year. Nope gone up to 16k !!!!!!
Collect massive amounts for reserve fund to pay for unexpected bills but never used so this year got balancing charge a couple days before xmas wiping out my savings despite money available for repairs in reserve fund.
At best incompetent at worse crooks.
RTM I wish, most of flats BTL who just up the rent because demand so high and supply so low.
Dave,
About 20% of the shareholders in this Right to Manage are Landlords who rent out their propertys. Without their support we would not have achieved RTM.